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Subsequent events
6 Months Ended
Jun. 30, 2023
Subsequent events  
Subsequent events

Note 19 - Subsequent events

Management has performed an evaluation of subsequent events after the Balance Sheet date of June 30, 2023 through the date the Condensed Consolidated Financial Statements were available to be issued.

On August 10, 2023, the Company amended and restated the existing Syndicated Credit Agreement (“Second Amendment”). As a result of the Second Amendment, GSH, a consolidated subsidiary of the Company, along with the Company are co-borrowers of the Syndicated Credit Agreement.

The Second Amendment, among other things, provides an increase in facility from $150.0 million to $240.0 million and extends the maturity date to August 10, 2026. Wells Fargo Bank and Regions Bank have increased their participation in the Syndicated Line from $55.0 million to $65.0 million and from $35.0 million to $55.0 million, respectively. Texas Capital Bank, Truist Bank and First National Bank are no longer participants of the Syndicated Line while Flagstar Bank, United Bank and Third Coast Bank have joined as new participants of the Syndicated Line with the participation of $50.0 million, $40.0 million and $30.0 million, respectively.

There were no changes to interest rates under the Second Amendment.